Bank Frick adds trading and custodian service offering
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Bank Frick adds trading and custodian service offering 03 February 2020Liechtenstein Reporter: Maddie Saghir
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Bank Frick has expanded its range of cryptocurrencies to offer trading and secure custody of Bitcoin Cash (BCH) for professional market participants and private clients.
The service will offer secure custody of BCH and keeps its customers' crypto assets in cold storage wallets, according to Bank Frick.
“The bank keeps its customers' crypto assets in cold storage wallets. These are physically separated from the Internet and therefore cannot be externally hacked. The wallets and their backup copies are held securely on a geo-redundant basis,” Bank Frick explained.
Liechtenstein-based Bank Frick has been offering investors a ‘smooth and secure’ way to trade the leading cryptocurrencies Bitcoin, Litecoin, Ripple, Ether, Ethereum Classic, NEM, Qtum and Stellar since 2018.
Clients can also deposit these assets within the bank for safekeeping. Bank Frick has designed this offer specifically for institutional clients, miners and mining firms, and wealthy cryptocurrency investors.
Cryptocurrencies can be bought using euros, US dollars and Swiss francs.
Investments in crypto assets are ‘highly speculative’ Bank Frick outlined, and so it is recommended that they only form a small part of any portfolio.
Stefan Rauti, head of blockchain banking at Bank Frick, commented: “By adding Bitcoin Cash, we are offering our clients yet another way to diversify their portfolios.”
Bank Frick noted that trading takes place once a day within the fully regulated environment of the bank.
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